Octopus Energy has announced plans to deliver 600 MW of new solar and battery storage capacity in Spain, enough to supply more than 2.3 million homes with clean electricity. The investment was unveiled at the UK–Spain Trade and Investment Roundtable and will bring Octopus’s renewable portfolio close to 5 GW across Europe.
The expansion includes newly acquired solar farms in Navarre and Albacete, with a combined capacity of 100 MW, as well as investment in a developer targeting 500 MW of battery storage over the next five years. The projects are backed by Octopus Energy Generation’s £2 billion ‘Sky’ fund.
Accelerating Spain’s energy transition
Spain is one of Europe’s fastest-growing renewable energy markets, and Octopus’s investment reflects growing demand for solar and storage to provide grid flexibility. The company has also taken a stake in OneSolar, a Barcelona-based energy advisory firm focused on helping businesses build and operate solar and battery projects more efficiently.
Since entering Spain three years ago, Octopus has rapidly expanded its retail business and now supplies more than 350,000 customers nationwide. The company expects to reach one million customers by 2027, outpacing its early growth in the UK.
Industry perspectives
Zoisa North-Bond, CEO of Octopus Energy Generation, said: “Spain’s appetite for the energy transition is truly remarkable. From battery storage and solar farms to cheaper electricity for households and businesses, every project we deliver adds more green power to the system and brings smarter, more sustainable energy solutions to communities.”
Growing European portfolio
Octopus Energy Generation currently manages more than 4.9 GW of renewable projects globally, spanning wind and solar farms across 21 countries. The company said the new investments in Spain are part of its strategy to accelerate the delivery of low-carbon infrastructure across Europe while supporting the electrification of homes, transport, and businesses.
